In an article for Counsel Magazine, Ben Harding covered the decisions of the Court of Appeal in County Leasing Asset Management Ltd v. Hawkes  EWCA Civ 1251 and Davy v. Pickering  EWCA 30 concerning the Court’s powers under s.1032 of the Companies Act 2006 to give directions when restoring a company to the register.
The decisions confirmed that the circumstances in which the Court will extend the limitation period for claims by or against the company will be limited to where the claim would have been brought but for the dissolution of the company. The Court of Appeal at the same left open the intriguing possibility that in an appropriate case the Court might give directions which in effect adjust the date of the onset of insolvency to back before the company was struck off the register and potentially into a preceding administration – even if insolvency proceedings are only commenced after restoration. This might allow creditors to restore the company to pursue by the insolvency routes assets transferred away before dissolution.
The article can be found on the Counsel website.
Click here to share this shortlist.
(It will expire after 30 days.)